It runs in the family

Raymond Weil is an eponymous watchmaking firm founded as recently as 1976, smack dab in the middle of one of the biggest crises that the Swiss watch making industry ever faced, thanks to that little shiny bit of quartz. It doesn’t have the luxury of a lineage that spans several centuries, as many of its Swiss counterparts do, but for this Geneva-based marque, it uses that to its advantage. It’s quick to innovate, introduces contemporary and edgy timepieces, and was also one of the first Swiss watchmakers to bet big on India.

We recently met with Raymond’s son-in-law and CEO Olivier Bernheim, and Olivier’s son Elie who is also involved in managing the company.

How has India as a market performed for Raymond Weil?
Olivier: We are living in a very tough period; the market is complicated. The economy is very difficult, if not very poor, so the challenge right now is to consolidate and to reinforce the existing network. We have to extend the distribution network in India quite rapidly. A few years ago we didn’t have any boutiques, but now we have more than 5-6 boutiques and 150-55 doors across the country. We are thinking globally but acting locally in order to better fit into the future of different markets.

What’s the single most important criteria for your men’s luxury watch collection?
Olivier: The consistency of our price point. We are known for a high level of quality at price that makes the watches affordable for the local jeweller.
Elie: The goal is to offer timepieces between USD 1,500-3,000. All our major collections including the Freelancer and Maestro are within this range. Raymond Weil has roots and legitimacy within this segment of the market.

What are some of the constraints you face by virtue of being an independent brand?
Elie: We have to fight for space – including physical, retail and market share – with the big players. These groups with multiple brands are fighting so hard with each other to make up the numbers that they are occupying more space in stores and pushing out the competition; they’re pushing out independent brands like Raymond Weil. We’ve made it known to our retailers that Raymond Weil offers them a way to scatter the risk that accompanies the stocking up of brands from only one group.

Oliver, wasn’t your father-in-law the first Swiss watchmaker to come to India?
Olivier: Yes, he came here in 1950. When he was working with Camy watches [before he founded Raymond Weil] he was exporting most of what it was manufacturing to India. His partner at that time in India was MP Goyal from Mumbai. That’s how he became so knowledgeable about India, and that’s how I learnt so much about India from him. After India, he went into China and began selling Swiss automatic movements there. My father-in-law was a trendsetter someone who was keen to discover, someone who was keen to open a market.

Elie, you and your brother Pierre recently launched a watch brand of your own – 88 Rue du Rhone. Was there a reason that you picked such an unconventional name?
Elie: There is a fantastic story behind it. Eight is a lucky number in Asian culture. We are 2 brothers so we thought that we both need luck in our lives. We also wanted to point out that these watches were Swiss made. 88 Geneva doesn’t mean anything, 88 Swiss doesn’t mean anything either. So we came to the conclusion that the most prestigious street in Geneva, where we live, is Rue du Rhone. The funny part is when we were registering the name and verifying that no other commercial space existed there, we realised that nothing exists in that space on that street.